Singapore: Singapore's competition commission has proposed that exemption for liner shipping be extended until the end of 2015. The Competition Commission of Singapore (CCS) said it was proposing to recommend to the government that the block exemption for liner shipping from the country's competition law be extended for five years when it expires at the end of this year. "In view of the global economic downturn that has impacted the liner industry significantly, CCS is of the view that more time is required to assess the impact of regulatory changes in the EU. It is also important to recognise that there are other routes through Singapore which will not be affected by regulatory developments in the EU," CCS said. The commission has already sought feedback from 30 industry players and has now opened the proposal up for public consultation. The block exemption was first introduced at the beginning of 2006 after the liner shipping industry lobbied to be excluded from Singapore's newly enacted competition law. [16/09/10]
Copyright © 2024. All rights reserved. Seatrade, a trading name of Informa Markets (UK) Limited. Add Seatrade Maritime News to your Google News feed.
